Prepare a stores ledger account from the following information adopting FIFO method of pricing of issues of materials:
|
March 1. |
Opening balance |
500 tonne at Rs. 200 |
|
Issue |
70 tonne |
|
|
Issue |
100 tonne |
|
|
Issue |
80 tonne |
|
|
Received from |
200 tonne at |
|
|
supplier |
Rs. 190 |
|
|
Returned from Dept A |
15 tonne |
|
|
Issue |
180 tonne |
|
|
Received from |
240 tonne at |
|
|
supplier |
Rs. 195. |
|
|
Issue |
300 tonne |
|
|
Received from |
320 tonne at |
|
|
supplier |
Rs. 200 |
|
|
Issue |
115 tonne |
|
|
Returned from Dept B |
35 tonne |
|
|
Received from |
100 tonne at |
|
|
supplier |
Rs. 200. |